Topic 4: Product and Branding Flashcards
What are the types of products?
- Specialty.
- Shopping.
- Convenience.
- Unsought.
What is a product mix?
A complete set of all goods or services offered by the firm.
What are the product lines?
A group of associated items that consumers tend to think of as part of a group.
What is product breadth?
Represents the number of product lines offered by the firm.
What is product depth?
The number of products within a product line.
Brand awareness.
Measures how many consumers in a market are familiar with the brand, what it stands for and whether they have an opinion about it.
What’s the value of branding?
- Facilitate Purchasing.
- Establish Loyalty.
- Protect from Competition.
- Are Assets.
- Impact Market Value.
What is brand equity?
The perceived value and brand associations.
What is brand extension?
Refers to the use of the same brand name in a different product line.
What is a line extension?
THe use of the same brand name within the same product line and increases the product line’s depth
What is cobranding?
Practice of marketing two or more brands together.
What is brand licensing?
A contractual agreement between firms, whereby one firm allows another to use its brand name, logo, symbols and/or characters in exchagne for a negotiated fee.
What is brand repositioning?
Or rebranding, refers to changing a brands focus to a new market or realign the brand’s core emphasis with changing market preferences.
What is packaging?
- Primary package, what the toothpaste is in.
- Secondary package, the wrapper or exterior package containing the primary package.
